Berenberg initates Atlassian Corporation (TEAM) rating to a Hold


Atlassian Corporation’s filing revealed that its Co-CEO, Co-Founder Cannon-Brookes Michael unloaded Company’s shares for reported $1.69 million on Sep 01. In the deal valued at $204.79 per share,8,241 shares were sold. As a result of this transaction, Cannon-Brookes Michael now holds 156,579 shares worth roughly $ 32.01 million.

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Then, Farquhar Scott sold 8,241 shares, generating $1,687,644 in total proceeds. Upon selling the shares at $204.79, the Co-CEO, Co-Founder now owns 156,579 shares.

Before that, Cannon-Brookes Michael sold 8,241 shares. Atlassian Corporation shares valued at $1,684,991 were divested by the Co-CEO, Co-Founder at a price of $204.46 per share. As a result of the transaction, Cannon-Brookes Michael now holds 164,820 shares, worth roughly $33.7 million.

Berenberg initiated its Atlassian Corporation [TEAM] rating to a Hold in a research note published on Friday, June 29, 2023; the price target was $150. PT values the company’s stock at a premium of -36.3 to its Friday closing price.

Price Performance Review of TEAM

On Friday, Atlassian Corporation [NASDAQ:TEAM] saw its stock jump 0.19% to $204.45. On the same session, the stock had its day’s lowest price of $202.39, but rose to a high of $207.42. Over the last five days, the stock has gained 7.03%. Atlassian Corporation shares have risen nearly 58.88% since the year began. Nevertheless, the stocks have fallen -17.45% over the past one year. While a 52-week high of $264.97 was reached on 08/04/23, a 52-week low of $113.86 was recorded on 01/06/23. SMA at 50 days reached $181.73, while 200 days put it at $160.73. A total of 0.78 million shares were traded, compared to the trading of 1.16 million shares in the previous session.

Levels Of Support And Resistance For TEAM Stock

The 24-hour chart illustrates a support level at 202.09, which if violated will result in even more drops to 199.72. On the upside, there is a resistance level at 207.12. A further resistance level may holdings at 209.78. The Relative Strength Index (RSI) on the 14-day chart is 63.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 11.18, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 10.67%. Stochastics %K at 92.91% indicates the stock is a selling.

How much short interest is there in Atlassian Corporation?

A steep rise in short interest was recorded in Atlassian Corporation stocks on Aug 14, 2023, dropping by -1.51 million shares to a total of 3.59 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.1 million shares. There was a decline of -42.06%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.66% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.86.

Atlassian Corporation [TEAM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 14,410,347 shares, or roughly 9.49% of the outstanding TEAM shares. In other words, the investor’s shares have risen by 847,181 from its previous 13-F filing of 13563166.0. Additionally, T. Rowe Price Associates, Inc. increased 5.70% of its stake after which the total value it holdings stand at $2,169,779,142, while WCM Investment Management LLC reduced -0.30% of its stake to hold $1.73 billion in the firm. Over the last quarter, Baillie Gifford & Co. sold -109,912 shares of Atlassian Corporation, while Artisan Partners LP sold 203,460 shares. At present, BlackRock Fund Advisors is holding 5,728,997 shares valued at $1.04 billion. Janus Henderson Investors US LLC owned 5,280,735 shares of the company at the time of its most recent 13F filing, worth $960.78 million.

According to FactSet, Atlassian Corporation’s share price will average $226.55 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.71 percent from its previous closing price of $204.06. Analysts expect Atlassian Corporation stock to reach the higher price of $420.00, while the lowest price estimate is $170.00. However, 28 analysts have rated TEAM stock as an Overweight in their predictions for 2023.


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